AUD/USD Forecast October 18, 2016, Technical Analysis

The AUD/USD pair broke higher during the course of the day on Monday, testing the massive support above the 0.7650 level. If we can break above there, it’s likely that we will continue to grind our way towards the 0.77 handle. Pullbacks at this point in time will find plenty of support just below, and supportive candles and of course bounces will be offers of buying as the market will then reach higher again and again. I do not think that this market is going to be easy to trade though, because quite frankly it is going to be extraordinarily volatile.